EDFI Management Company Partners with RDG Collective to Empower Financial Sustainability and Expand Solar Access in Zambia

EDFI MC will provide Technical Assistance to Zambian distributor RDG Collective to enhance financial sustainability

Brussels, Belgium – June 4, 2024 – EDFI Management Company (EDFI MC) today announced it will provide technical assistance to RDG Collective (“RDG”), a leading Zambian distributor of Solar Home Systems (SHSs) and productive-use appliances.

Founded in 2018 with the mission of “Empowering the Future,” RDG offers affordable access to Solar Home Systems (SHS) and appliances through a PAYGo (pay-as-you-go) model, enabling off-grid households in Zambia to spread payments over time. RDG currently operates across eight provinces, employing 80 full-time staff and collaborating with 200 field sales agents. With over 20,000 units sold, RDG is a fast-growing company poised for significant expansion.

In 2022 EDFI MC invested USD 2 million in a convertible note in RDG through its investment facility ElectriFI. Recognizing the company’s potential, EDFI MC will further provide technical assistance to help RDG strengthen its financial management and hire an interim CFO for a duration of up to 12 months. EDFI MC contribution is expected to be up to $75.000 and is funded by the European Union.

“EDFI MC’s technical assistance will be instrumental in ensuring RDG has the robust financial management systems in place to achieve its ambitious growth plans,” said Natalia Svarinska, Technical Assistance Specialist at EDFI MC. “By strengthening RDG’s financial capacity, we are not only supporting the company’s success but also contributing to increased access to clean energy solutions in Zambia.”

RDG founder and CEO Rune Gunnar Dige added “We are thrilled to partner with EDFI MC to enhance our financial management capabilities. This support will enable us to continue our mission to provide access to clean energy in Zambia in a more efficient way, as well as help our further growth in Southern Africa.”

About EDFI Management Company:

EDFI Management Company is a multilaterally owned impact asset manager which delivers innovative development finance solutions that enable European DFIs, development banks and private sector investors to increase the scale and impact of their work. The company focuses on business models, technologies, and geographies where other investors have not been able to operate at the desired scale given their resources and investment criteria.  For more information, visit www.edfimc.eu

About RDG Collective:

RDG Collective is a Zambian manufacturer and distributor of Solar Home systems and Productive use appliances. https://rdg-home.com/